Decree No. 40/2012/ND-CP of May 2, 2012 of the Government on issue of money, and preservation and transportation of precious assets and valuable papers within the system of the State Bank, credit institutions and foreign bank branches

THE GOVERNMENT

Decree No. 40/2012/ND-CP of May 2, 2012, on issue of money, and preservation and transportation of precious assets and valuable papers within the system of the State Bank, credit institutions and foreign bank branches

Pursuant to the December 25, 2001 Law on Organization of the Government;

Pursuant to the June 16, 2010 Law on the State Bank of Vietnam;

Pursuant to the June 16, 2010 Law on Credit Institutions;

At the proposal of the Governor of the State Bank of Vietnam,

The Government promulgates the Decree on issue of money, andpreservation and transportation of precious assets and valuable papers within the system of the State Bank, credit institutions and foreign bank branches.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree provides for the printing, minting, preservation, transportation, issue, withdrawal, replacement and destruction of banknotes and coins (below collectively referred to as money); preservation and transportation of precious assets and valuable papers within the system of the State Bank, credit institutions and foreign bank branches; and expenses for money issue operations.

Article 2. Subjects of application

1. The State Bank of Vietnam (below referred to as the State Bank)

2. Credit institutions and foreign bank branches.

3. Money printing and minting establishments; the State Treasury; and other relevant agencies, organizations and individuals.

Article 3. Interpretation of terms

In this Decree, the terms below are construed as follows:

1. Cash means banknotes and coins issued by the State Bank.

2. New money not yet issued means banknotes and coins which have been printed and minted and are stored in the State Bank’s vault but not yet permitted to be issued for circulation.

3. Money suspended from circulation means banknotes and coins which are no longer valid for circulation under the Prime Minister’s decision.

4. Money unqualified for use means banknotes and coins issued by the State Bank, which are currently in circulation but torn, damaged or deformed under the State Bank’s regulations.

5. Precious assets include gold, precious metals, gems, foreign currencies in cash and other types of precious assets.

6. Money printing and minting establishment means an organization printing and minting money at home and abroad which conducts money designing, plate making, printing and minting under contracts with the State Bank.